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day 1 - session 3: Precious Metals sector<br />Gold & Silver OutlookArthur Vestey– Investment Manager,Cheviot Asset Manage...
GLOBAL MININGINVESTMENT CONFERENCE 2010<br />Lead sponsors:<br />Media partners:<br />Other sponsors & participating organ...
3<br />Gold & Silver Outlook<br />Arthur Vestey<br />Cheviot Asset Management<br />28th September 2010<br />3<br />
4<br />10 Year Gold & Silver<br />GOLD<br />SILVER<br />Source: Bloomberg<br />
5<br />Why Silver ? <br />
6<br />The History of Silver <br />
7<br />Gold/ Silver Ratio 2007-2010<br />Source: Bloomberg<br />
8<br />Silver Usage<br />“Silver is the best technology stock you can own” David Morgan <br />
9<br />Gold/ Silver Availability<br />
10<br />Gold & Silver Bubble?<br />
11<br />Gold vs NASDAQ Secular Bull Market Comparison<br />Source: Bloomberg<br />
12<br />Diminishing Marginal Productivity of Debt in the US Economy (in Dollars)<br />“You can’t bail out debt with debt”<...
13<br />USD Purchasing Power 1971-<br />
14<br />Alan Greenspan Quotes<br />1966: “In the absence of the Gold Standard, there is no way to protect savings from con...
15<br />Current View<br /> - Market Cap $1bn +<br /><ul><li> Mainly small/ mid cap</li></ul> - Central Fund of Canada [CEF...
GLOBAL MININGINVESTMENT CONFERENCE 2010<br />Lead sponsors:<br />Media partners:<br />Other sponsors & participating organ...
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Arthur Vestey: Gold & Silver Outlook (Day 1 - Session 3: Precious Metals Sector)

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Day 1- Session 3: Precious Metals Sector

Gold & Silver Outlook

Objective Capital Global Mining Investment Conference 2010
Stationers' Hall, City of London
28-29 September 2010
Speaker:
Arthur Vestey - Cheviot Asset Management

Published in: Investor Relations
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Arthur Vestey: Gold & Silver Outlook (Day 1 - Session 3: Precious Metals Sector)

  1. 1. day 1 - session 3: Precious Metals sector<br />Gold & Silver OutlookArthur Vestey– Investment Manager,Cheviot Asset Management<br />
  2. 2. GLOBAL MININGINVESTMENT CONFERENCE 2010<br />Lead sponsors:<br />Media partners:<br />Other sponsors & participating organisations:<br />
  3. 3. 3<br />Gold & Silver Outlook<br />Arthur Vestey<br />Cheviot Asset Management<br />28th September 2010<br />3<br />
  4. 4. 4<br />10 Year Gold & Silver<br />GOLD<br />SILVER<br />Source: Bloomberg<br />
  5. 5. 5<br />Why Silver ? <br />
  6. 6. 6<br />The History of Silver <br />
  7. 7. 7<br />Gold/ Silver Ratio 2007-2010<br />Source: Bloomberg<br />
  8. 8. 8<br />Silver Usage<br />“Silver is the best technology stock you can own” David Morgan <br />
  9. 9. 9<br />Gold/ Silver Availability<br />
  10. 10. 10<br />Gold & Silver Bubble?<br />
  11. 11. 11<br />Gold vs NASDAQ Secular Bull Market Comparison<br />Source: Bloomberg<br />
  12. 12. 12<br />Diminishing Marginal Productivity of Debt in the US Economy (in Dollars)<br />“You can’t bail out debt with debt”<br />
  13. 13. 13<br />USD Purchasing Power 1971-<br />
  14. 14. 14<br />Alan Greenspan Quotes<br />1966: “In the absence of the Gold Standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value... deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process.”<br />2009: “The rise in gold and silver is strictly a monetary phenomenon and is an indication of the very early stage of an endeavour to move away from paper currencies’.”<br />2010: “Fiat money has no place to go but gold…If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine. It signals problems with respect to currency markets. Central banks should pay attention to it.” <br />
  15. 15. 15<br />Current View<br /> - Market Cap $1bn +<br /><ul><li> Mainly small/ mid cap</li></ul> - Central Fund of Canada [CEF.US]<br />
  16. 16. GLOBAL MININGINVESTMENT CONFERENCE 2010<br />Lead sponsors:<br />Media partners:<br />Other sponsors & participating organisations:<br />

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